Independent Standard-Setting Boards

The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.

The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.

The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.

by Fermí n del Valle, President, International Federation of Accountants

IFAC's Vision for the Future of Professional Regulation

Good evening, ladies and gentleman.

I'm very happy to be here with you all this evening. I am sure you will join me in thanking our hosts, the Association of Chartered Certified Accountants (ACCA), for the wonderful dinner this evening. I would like also to thank Allen Blewitt, ACCA's Chief Executive, for the invitation to speak with you this evening.

As indicated in its "European Manifesto," the ACCA shares IFAC's focus on education and training, financial reporting, auditing, small business issues and corporate governance. The manifesto makes an important point that I would like to reiterate: "Forming partnerships is key to shaping the EU's future agenda." In addressing so central an issue as regulation of the profession, I believe that it is vital for IFAC, its 155 member bodies worldwide, and regional organizations like FEE, to work in partnership to shape the agenda. As in so many other matters, collaboration in relation to regulation is essential.

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